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Technology Stocks : THREE FIVE SYSTEM (TFS) - up from here? -- Ignore unavailable to you. Want to Upgrade?

To: voyager.ed who wrote (1694)	6/6/1998 11:45:00 PM
From: michael c. dodge	Read Replies (1) \| Respond to of 3247

Thread.....Per the Q&A in the MOT call.....MOT will announce in July new digital handsets for the TDMA; CDMA at least in the US; and GSM markets. Possibly in the StarTac form factor, which has been promised for 1998, but not pinned down as to date. July announcements mentioned three times by C. Galvin. So.....the stockmarket is not efficient, and many people will be surprised by the subsequent TFS news. There is a disconnect between the MOT conference call, and some (probably most) of the shareholders of TFS. You need a certain amount of predicate knowledge, to understand what the implications of disparate bits of information are for each other, and for third-party bits of information. The job is to interpolate, and to get enough experience (first) and skill (later) to create confidence in your decisions. And to understand why you have been right or wrong, when you are. Its great fun, particularly if your living does not depend on it.

To: voyager.ed who wrote (1694)	6/7/1998 12:06:00 AM
From: Noblesse Oblige	Read Replies (1) \| Respond to of 3247

Hi Michael, Ed.... Michael....I chose Nokia. Believe it or not, most months I make minimal use of my phone, but during those months that I travel, the roaming costs kill me. Last month I was out of town for only about a total of a week, and I had nearly $ 300 in roaming fees. Anyone that travels on business and uses a cell phone has to benefit from the new plan. Ed....the process of investing is often trying and difficult, even in good markets. TFS hasn't been easy for me for at least a couple of years, even aside from the normal stumbles of growth stocks (and for the last six months, yep...that long...it has been the same stumble over and over again. When is MOT finally going to ship?) In addition, management has occasionally been more than recalcitrant in helping shareholders achieve fair valuations for their equity. On and off for the last year, this company has almost taken over my life. I doubt I will ever devote this much energy to "educating" either a management or a group of investors again. Frankly, even if I sell my shares at $50, it will barely have been worth the effort, either from the standpoint of my family (who hasn't gotten all of my attention for ages), or myself (who will in the next couple of weeks miss the third planned vacation in the last year, as my wife and two eldest sons will take MY lifelong desired vacation in my absence). You can bet your "dupa" that my clients aren't particularly happy being in the stock, as it has been dead money for a good long time. However, they pay me to make these decisions for them, and it is my own judgement that must prevail. To that end, I have come to realize that there are a variety of reasons that have contributed to the share's undervaluation, but at the same time, I realize that all it would take to fix that is to get on track with MOT and have the management effectively tell the story. Now that we are getting close to the company doing some sort of offering, it is clear that a greater degree of focus will be brought to bear upon valuation. Why? Because if it isn't handled properly, we will suffer all of the problems of pricing the deal too low, not the least of which is unnecessary dilution. And, not only will you and I suffer as a consequence, but so will management. Unnecessary losses have a way of focusing the mind. So, though I am not confident that management will continue an improved communication stance following the expected offering, prior to it being effective they will endeavor to do the best job they can. It is only reasonable. Then, following the offering, the broker dealers will take over, as analysts spread the word in order to make the offering look "good" to investors and their clients. Perhaps we will even get glowing reports on the technology under development, with Siliscape's contribution the main focal point. At the same time, fundamentals should be kicking in strongly, and the numbers will be going through the roof. Prediction? The shares are underowned institutionally in the first place, hard to buy because of the lack of liquidity, with no real sponsorship, and with a management not doing a premier job of promoting the value of the business. All of those things will change within 6 months. The stock is finally ready to fly. Ed, if we are having this same conversation after January/99 (when the fourth quarter will already have been reported), I have been wrong again and you have been disappointed. But, my judgement tells me that the time has finally come. Barring a bear market and/or Federal Reserve "punchbowl stealing," we will get what we want soon enough. Keep your fingers crossed.